Moving towards Knowledge Economy

To what extent a country is prepared for the transition to knowledge-based economy, i.e. the economy that is able to efficiently stock, process and transfer knowledge, needed for a country to maintain competitiveness in today's modern world? To shed some light on this complicated question and correspondingly to help country leaders to choose strategically right directions, the World Bank developed instrument known as Knowledge Economy Index. Based on 148 indicators which serve as proxies for 4 Knowledge Economy pillars, exactly, Economic Incentive and Institutional Regime, Education and Labor, Innovation and Information & Communications Technology, this index assesses 146 countries throughout the world on their ability to compete in international innovative environment and to supply new knowledge.